by Calculated Risk on 1/24/2020 08:30:00 AM

From SacRealtor.org: December market sees inventory drop 27%

December closed with 1,244 sales, up slightly from 1,242 in November. Compared to one year ago (1,104), the current figure is up 12.7%.
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Over the last three months the Active Listing Inventory has decreased from 2,301 units in October to 1,803 units in November to 1,315 units for December. From October to December, this is a 43% decrease. From November to December, this is a 27% decrease. The Months of Inventory dropped from 1.5 to 1.1 Months. This figure represents the amount of time (in months) it would take for the current rate of sales to deplete the total active listing inventory. [Note: Compared to December 2018, inventory is down 38.8%] .
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The Median DOM (days on market) increased from 15 to 19 and the Average DOM increased from 29 to 32. “Days on market” represents the days between the initial listing of the home as “active” and the day it goes “pending.”
emphasis added

1) Overall sales increased to 1,244 in December, up from 1,104 in December 2018. Sales were up slightly from November 2019 (previous month), and up 12.7% from December 2018.

2) Active inventory was at 1,315, down from 2,149 in December 2018. That is down 38.8% year-over-year.  This is the eighth consecutive month with a YoY decline following 20 months of YoY increases in inventory.